Liens can be defined as legal claims that can be found written in the fine print of small business loans. In case the borrower fails to perform its obligations, a lien can provide the lender with some security to be better protected. Filing a Lien and Blanket Liens If the lender files a lien for unpaid debts, the former gets an opportunity to sell a business’s assets so to collect money. This is how the lender gets protection against risks. The thing that loan terms include a lien option should not make you avoid applying for loans. If the lender […]
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